Wedmont Private Capital Makes New $206,000 Investment in The Sherwin-Williams Company (NYSE:SHW)

Wedmont Private Capital purchased a new position in shares of The Sherwin-Williams Company (NYSE:SHWGet Rating) in the second quarter, Holdings Channel reports. The fund purchased 922 shares of the specialty chemicals company’s stock, valued at approximately $206,000.

A number of other institutional investors also recently added to or reduced their stakes in SHW. Parnassus Investments LLC bought a new stake in shares of Sherwin-Williams in the 1st quarter worth $549,574,000. Norges Bank bought a new stake in shares of Sherwin-Williams in the 4th quarter worth $668,384,000. Capital International Investors raised its stake in shares of Sherwin-Williams by 97.3% in the 4th quarter. Capital International Investors now owns 3,375,591 shares of the specialty chemicals company’s stock worth $1,188,688,000 after buying an additional 1,664,485 shares in the last quarter. Sustainable Growth Advisers LP bought a new stake in shares of Sherwin-Williams in the 1st quarter worth $277,399,000. Finally, Massachusetts Financial Services Co. MA raised its stake in shares of Sherwin-Williams by 6.2% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 8,651,975 shares of the specialty chemicals company’s stock worth $2,159,706,000 after buying an additional 502,212 shares in the last quarter. Institutional investors and hedge funds own 77.48% of the company’s stock.

Sherwin-Williams Stock Performance

Shares of SHW stock opened at $218.83 on Wednesday. The Sherwin-Williams Company has a 1-year low of $214.22 and a 1-year high of $354.15. The company has a current ratio of 0.87, a quick ratio of 0.53 and a debt-to-equity ratio of 3.86. The company has a market capitalization of $56.72 billion, a price-to-earnings ratio of 32.91, a P/E/G ratio of 2.15 and a beta of 1.05. The stock’s fifty day simple moving average is $241.16 and its 200-day simple moving average is $248.76.

Sherwin-Williams (NYSE:SHWGet Rating) last issued its quarterly earnings results on Wednesday, July 27th. The specialty chemicals company reported $2.41 earnings per share for the quarter, missing analysts’ consensus estimates of $2.78 by ($0.37). Sherwin-Williams had a net margin of 8.45% and a return on equity of 82.04%. The business had revenue of $2.87 billion for the quarter, compared to analysts’ expectations of $6.01 billion. During the same quarter in the prior year, the firm posted $2.65 EPS. The business’s quarterly revenue was down 46.6% compared to the same quarter last year. On average, sell-side analysts predict that The Sherwin-Williams Company will post 8.64 earnings per share for the current fiscal year.

Sherwin-Williams Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, September 9th. Shareholders of record on Friday, August 19th were paid a $0.60 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $2.40 dividend on an annualized basis and a yield of 1.10%. Sherwin-Williams’s dividend payout ratio (DPR) is currently 36.09%.

Wall Street Analysts Forecast Growth

SHW has been the topic of a number of research reports. KeyCorp dropped their price objective on Sherwin-Williams from $335.00 to $290.00 and set an “overweight” rating on the stock in a research note on Thursday, July 28th. Evercore ISI dropped their price objective on Sherwin-Williams to $305.00 in a research note on Thursday, June 9th. Credit Suisse Group began coverage on Sherwin-Williams in a research note on Tuesday, May 31st. They issued an “underperform” rating and a $245.00 price objective on the stock. Wells Fargo & Company cut their target price on Sherwin-Williams from $285.00 to $270.00 and set an “equal weight” rating on the stock in a research report on Monday, July 18th. Finally, Bank of America lowered Sherwin-Williams from a “buy” rating to a “neutral” rating and cut their target price for the stock from $313.00 to $292.00 in a research report on Wednesday, July 13th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat, Sherwin-Williams has an average rating of “Hold” and an average price target of $310.39.

Sherwin-Williams Profile

(Get Rating)

The Sherwin-Williams Company develops, manufactures, distributes, and sells paints, coatings, and related products to professional, industrial, commercial, and retail customers. It operates through three segments: The Americas Group, Consumer Brands Group, and Performance Coatings Group. The Americas Group segment offers architectural paints and coatings, and protective and marine products, as well as OEM product finishes and related products for architectural and industrial paint contractors, and do-it-yourself homeowners.

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Institutional Ownership by Quarter for Sherwin-Williams (NYSE:SHW)

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